Changing market conditions…

• The US-Iran peace talks appear to be stalling with Iran’s latest attacks on its regional neighbours in the Middle East. The Russia-Ukraine war is in its 4th year with no end in sight.
• US markets have new record highs, with some cautioning on the amount of debt (leverage) being used to drive it AXIOS, with a lot of comparison to the dot-com bubble of the late 1990s to 2002. Year to date, the NASDAQ is up nearly +16% (compared with the S&P/ASX 200 at 0.116%). Metals and Mining are still the standout indices at +21.3% year to date.
• On the commodities front, Gold is at $US4490 down from its peak above $US5500 in January. Brent Oil is $US95.25 a barrel, Iron Ore $US105.03 a tonne and the Aussie is $US .72, as I type.
• Australia posted its first trade deficit (imports exceeding exports) in nearly a decade, driven by equipment needed for data centre construction.
• GDP came in weaker-than-expected at 0.3% in the March quarter, leaving the annual rate of growth at 2.5%. Slow growth is increasing the odds of a HOLD at the RBA’s next interest rate meeting on June 16.
• The OECD’s latest annual report shows Australia is the fourth-highest income-taxing country in the developed world. Eek!
• On the property front, our market is easing with days on market increasing and a 20.7% increase in the available listings from this time last year. REIWA are reporting we are still well below the 50-day time to sell average recorded in the 5 years before COVID.
• Changing market conditions require professional analysis and strategic thinking. Call me for a personalised plan to help you achieve your property goals.

Jody Fewster
Please contact me on 0414 688 988 or by email at jody.fewster@raywhite.com
Click here to read some of my testimonials.